Credit Opportunities Fund | Lord Abbett

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Credit Opportunities Fund

fund alert

January 27 is the quarterly deadline to redeem the Credit Opportunities Fund.

Daily price w/o sales charge as of 12/05/2025

$8.65

arrowUp$0.01

YTD Returns w/o sales charge as of 12/05/2025

5.20%

Click here to view all legal text including risk information

Summary

Summary

What is the Credit Opportunities Fund?

The Fund seeks to deliver high current income and total return through a flexible strategy investing across a broad range of global fixed income sectors.

A LEADER IN CREDIT

An investment team with proven capabilities across corporate credit and structured product sectors.

A FLEXIBLE APPROACH

Flexibility to capture opportunities across multiple sectors of the global fixed income markets.

AN EXPANDED OPPORTUNITY SET

Potential for enhanced yield and return in less liquid sectors of fixed income markets through an interval fund structure.

Yield

Average Yield to Maturity as of 10/31/2025

11.36%

Distribution Yield as of 12/05/2025  

8.89%

30-Day Standardized Yield 1 as of 11/30/2025  

  Subsidized2 Un-Subsidized3
w/o sales charge 7.71% 7.63%

Fund Basicsas of 10/31/2025

Total Net Assets
$3.00 B
Inception Date
06/18/2020
Dividend Frequency
Monthly
Fund Gross Expense Ratio
2.59%
Fund Net Expense Ratio
2.57%
Adjusted Expense Ratio
2.14%
Number of Holdings
181

+Minimum Exceptions, View Full Disclosure

The minimum initial investment for  Institutional Class Shares is $1 million per account, except that the minimum investment may be modified for certain financial firms that submit orders on behalf of their customers, the Trustees and certain employees (and their extended family members) of Lord Abbett and its affiliates. There is no minimum subsequent investment amount.

Adjusted Expense Ratio – Excludes certain investment expenses, such as the interest expense from borrowing in certain underlying funds.

Fund Expense Ratio :

Gross 2.59%

Net 2.57%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 02/15/2019
w/o sales charge 4.84% 4.43% 8.07% 6.10% - 6.55%
Lipper Category Avg. - - - - - -
ICE BofA U.S. High Yield Constrained Index 7.88% 7.42% 9.60% 4.81% - -

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

Gross 2.59%

Net 2.57%

Fund Expense Ratio :

Gross 2.59%

Net 2.57%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 02/15/2019
w/o sales charge 6.71% 7.80% 9.46% 8.25% - 7.01%
Lipper Category Avg. - - - - - -
ICE BofA U.S. High Yield Constrained Index 7.12% 7.31% 11.06% 5.59% - -

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

Gross 2.59%

Net 2.57%

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect sales charges, which are not applicable to Class U Shares. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance of future results.

RELATED CONTENT

Interval Funds Explained

Interval funds can allocate to asset classes that are less liquid than those typically found in mutual funds but may offer the potential to generate higher long-term returns.

 

LEAD PORTFOLIO MANAGERS

Rocco-Steve_headshot

Steven F. Rocco, CFA
Partner, Co-Head of Taxable Fixed Income
24 Years of Industry Experience

Castle-Adam_headshot

Adam C. Castle, CFA
Partner, Portfolio Manager
17 Years of Industry Experience

Kang-Eric_headshot

Eric P. Kang
Partner, Portfolio Manager
26 Years of Industry Experience

 

INVESTMENT COUNCIL

Gizzo-Christopher_headshot

Christopher Gizzo, CFA
Partner, Deputy Director of Leveraged Credit
17 Years of Industry Experience

Lehmann-Jeremy_headshot

Jeremy Lehmann, CFA
Portfolio Manager
13 Years of Industry Experience

Novak-John_headshot

John M. Novak, CFA
Managing Director, Head of Research - U.S. Bank Loans
29 Years of Industry Experience

Trifon-Harris_headshot

Harris Trifon
Partner, Portfolio Manager
25 Years of Industry Experience

Skulkina-Mila_headshot

Mila Skulkina, CFA
Senior Managing Director, Portfolio Manager
24 Years of Industry Experience

Solomon-Todd_headshot

Todd Solomon
Portfolio Manager
29 Years of Industry Experience

Posner-Kearney_headshot

Kearney Posner, CFA
Partner, Portfolio Manager
26 Years of Industry Experience

Performance

Performance

Average Yield to Maturity as of 10/31/2025

11.36%

Distribution Yield as of 12/05/2025  

8.89%

30-Day Standardized Yield 1 as of 11/30/2025  

  Subsidized2 Un-Subsidized3
w/o sales charge 7.71% 7.63%

Fund Expense Ratio :

Gross 2.59%

Net 2.57%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 02/15/2019
w/o sales charge 4.84% 4.43% 8.07% 6.10% - 6.55%
Lipper Category Avg. - - - - - -
ICE BofA U.S. High Yield Constrained Index 7.88% 7.42% 9.60% 4.81% - -
w/ sales charge 4.84% 4.43% 8.07% 6.10% - 6.55%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

Gross 2.59%

Net 2.57%

Fund Expense Ratio :

Gross 2.59%

Net 2.57%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 02/15/2019
w/o sales charge 6.71% 7.80% 9.46% 8.25% - 7.01%
Lipper Category Avg. - - - - - -
ICE BofA U.S. High Yield Constrained Index 7.12% 7.31% 11.06% 5.59% - -

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

Gross 2.59%

Net 2.57%

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect sales charges, which are not applicable to Class U Shares. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance of future results.

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Type Assets
U.S. High Yield Corporate
CLO
Non-U.S. High Yield Corporate
Bank Loans
ABS
Private Credit
Convertibles
U.S. Investment Grade Corporate
Emerging Market
Common Stock
Equity
CMBS
Other
Cash
Rating Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 years
7-9.99 years
Greater than 10 years

Credit Quality Distribution as of 10/31/2025

Rating Assets
A
BBB
BB
B
CCC
<CCC
Not Rated

Portfolio Details as of 10/31/2025

Total Net Assets
$3.00 B
Average Effective Duration
2.16 Years
Average Life
4.2 Years
Average Maturity
5.93 Years
Number of Issues
181
Average Yield to Maturity
11.36%
Distribution Yield (as of 12/05/2025)
8.89%

To view definitions for the above Portfolio Details, Click here.

Holding Coupon Maturity Assets
LA PRIVATE CREDIT FUND S0.000% 04/02/20993.9%
LBM Acquisition LLC6.250% 01/15/20292.8%
Vital Energy Inc7.875% 04/15/20322.5%
Park-Ohio Industries Inc8.500% 08/01/20292.3%
Saturn Oil & Gas Inc9.625% 09/05/20282.2%
Park River Holdings Inc8.750% 12/31/20302.2%
ZF North America Capital Inc7.500% 03/24/20312.1%
Vermilion Energy Inc7.250% 02/15/20332.0%
Hughes Satellite Systems Corp6.625% 08/01/20262.0%
Cornerstone Building Brands Inc6.125% 01/15/20292.0%
Kraken Oil & Gas Partners LLC7.625% 08/15/20291.7%
Gray Media Inc5.375% 11/15/20311.6%
Sinclair Television Group Inc7.399% 12/31/20291.6%
Transocean International Ltd7.500% 04/15/20311.5%
CMG Media Corp8.875% 06/18/20291.5%
Borr IHC Ltd / Borr Finance LLC10.375% 11/15/20301.5%
JELD-WEN Inc7.000% 09/01/20321.5%
X Corp9.500% 10/29/20291.4%
Nabors Industries Inc8.875% 08/15/20311.4%
ACProducts Holdings Inc6.375% 05/15/20291.4%
SCF Equipment Leasing 2022-2 LLC6.500% 05/16/20281.4%
LA PRIVATE CREDIT FUND0.000% 10/04/20991.4%
BARCLAYS CAPITAL4.150% 11/03/20251.3%
Scripps Escrow II Inc5.375% 01/15/20311.3%
Venture Global LNG Inc9.000% 09/30/20291.3%
VStrong Auto Receivables Trust 2024-A10.120% 10/13/20281.2%
American Axle & Manufacturing Inc7.750% 10/15/20301.1%
ASP Unifrax Holdings Inc11.175% 09/30/20291.1%
CSC Holdings LLC4.625% 12/01/20301.1%
Transocean International Ltd6.800% 03/15/20381.0%
SCF Preferred Equity LLC7.500% 10/16/21741.0%
888 Acquisitions LLC9.104% 07/03/20281.0%
Herens Midco Sarl5.250% 05/15/20291.0%
Exeter Automobile Receivables Trust 2023-29.750% 03/22/20281.0%
GPS Hospitality Holding Co LLC / GPS Finco Inc7.000% 08/15/20280.9%
Conair Holdings LLC7.901% 05/17/20280.9%
EW Scripps Co/The9.875% 08/15/20300.9%
Central Parent LLC7.144% 07/06/20290.8%
Baytex Energy Corp7.375% 03/15/20320.8%
Alloy Finco Ltd0.005% 03/06/20250.8%
DISH DBS Corp5.125% 06/01/20290.8%
Santander Bank Auto Credit-Linked Notes Series 2022-C14.592% 02/13/20260.8%
Sinclair Television Group Inc8.184% 12/31/20300.7%
Kodiak BP LLC7.910% 12/04/20310.7%
Moss Creek Resources Holdings Inc8.250% 09/01/20310.7%
WULF Compute LLC7.750% 10/15/20290.7%
Atlanticus Holdings Corp9.750% 09/01/20300.7%
Oscar AcquisitionCo LLC / Oscar Finance Inc9.500% 04/15/20300.7%
Exeter Automobile Receivables Trust 2024-27.980% 07/30/20280.7%
Brand Industrial Services Inc8.354% 08/01/20300.7%
Hilcorp Energy I LP / Hilcorp Finance Co7.250% 02/15/20350.6%
OCP CLO 2023-26 Ltd0.000% 11/03/20250.6%
Santander Bank Auto Credit-Linked Notes Series 2022-B14.552% 01/27/20260.5%
Exeter Automobile Receivables Trust 2023-112.070% 02/18/20280.5%
Nabors Industries Inc1.750% 06/15/20290.5%
KKR CLO 56 Ltd10.405% 02/26/20340.5%
Santander Bank Auto Credit-Linked Notes Series 2022-A12.662% 01/27/20260.5%
Kosmos Energy Ltd7.500% 03/01/20280.5%
Cable One Inc4.000% 11/15/20300.5%
Cedar Funding XVIII CLO Ltd7.760% 01/28/20330.5%
CTM CLO 2025-1 Ltd7.835% 07/29/20340.5%
AGL CLO 30 Ltd10.620% 10/05/20330.5%
VistaJet Malta Finance PLC / Vista Management Holding Inc6.375% 02/01/20300.5%
AutoNation Inc0.000% 11/03/20250.4%
Borr Drilling Ltd5.000% 02/08/20280.4%
Madison Park Funding XLVII Ltd7.784% 12/30/20320.4%
Rackspace Finance LLC6.849% 05/15/20280.4%
Park River Holdings Inc8.000% 09/15/20280.4%
New Mountain CLO 5 Ltd0.000% 07/21/20360.4%
Benefit Street Partners CLO XXXIX Ltd0.000% 07/17/20380.4%
Rad CLO 22 Ltd0.000% 11/03/20250.4%
Trinitas CLO XXVI Ltd10.634% 06/26/20350.4%
RR 18 Ltd0.000% 11/03/20250.4%
Ballyrock CLO 24 Ltd0.000% 11/03/20250.4%
KKR CLO 47 Ltd10.405% 01/01/20350.4%
ICG US CLO 2024-R1 Ltd7.508% 08/11/20340.4%
Dryden 94 CLO Ltd12.005% 05/11/20340.3%
Elmwood CLO 20 Ltd0.000% 11/03/20250.3%
Bryant Park Funding 2025-26 Ltd9.234% 05/23/20350.3%
NGC CLO 2 LTD7.434% 05/05/20340.3%
Empower CLO 2024-2 Ltd9.955% 09/15/20340.3%
Dryden 115 CLO Ltd10.984% 10/08/20330.3%
Sycamore Tree CLO 2023-3 Ltd8.134% 06/28/20330.3%
CAL Receivables 2022-1 LLC8.584% 11/20/20250.3%
AMC Networks Inc4.250% 02/15/20290.3%
Ally Auto Receivables Trust 2024-10.000% 07/17/20300.3%
Bain Capital Credit CLO 2024-4 Ltd9.860% 01/08/20350.3%
AMMC CLO 31 Ltd9.334% 08/19/20340.3%
EquipmentShare.com Inc8.000% 03/15/20330.3%
Harmony-Peace Park CLO Ltd6.884% 07/07/20340.3%
Saks Global Enterprises LLC11.000% 12/15/20290.3%
Altice France SA6.500% 03/15/20320.3%
AMMC CLO 30 Ltd11.635% 03/25/20330.3%
Ares LXXIV CLO Ltd9.905% 01/12/20350.3%
GLS Auto Receivables Issuer Trust 2024-27.980% 07/02/20280.3%
720 East CLO 2022-I Ltd9.784% 06/18/20340.3%
Silver Point CLO 9 Ltd11.188% 08/20/20350.3%
Ares LV CLO Ltd10.405% 03/19/20340.3%
Exeter Automobile Receivables Trust 2024-37.840% 07/03/20280.3%
Exeter Automobile Receivables Trust 2024-57.220% 10/08/20270.3%
Perimeter Master Note Business Trust12.800% 07/17/20290.3%
Meritage Homes Corp1.750% 05/15/20280.3%
Trinitas CLO XXVI Ltd7.584% 01/10/20350.3%
Rockford Tower CLO 2025-1 Ltd9.505% 05/26/20350.2%
Rad CLO 20 Ltd10.284% 03/18/20320.2%
Sycamore Tree CLO 2024-5 Ltd10.254% 10/20/20380.2%
AMMC CLO 23 Ltd10.532% 12/21/20340.2%
Barrow Hanley CLO I Ltd9.134% 12/30/20340.2%
CP Atlas Buyer Inc12.750% 01/15/20310.2%
ASP Unifrax Holdings Inc0.025% 09/28/20290.2%
Lumen Technologies Inc4.500% 01/15/20290.2%
Generate Clo 13 Ltd11.910% 03/20/20330.2%
Generate Clo 13 Ltd8.870% 10/22/20320.2%
Wilsonart LLC11.000% 08/15/20320.2%
Generate CLO 20 Ltd9.208% 09/25/20340.2%
CIFC Funding 2024-I Ltd7.584% 04/14/20330.2%
Empower CLO 2023-2 Ltd9.505% 11/13/20350.2%
Nine Energy Service Inc13.000% 02/01/20280.2%
Oscar Acquisitionco LLC8.276% 04/30/20290.2%
First Brands Group LLC9.461% 03/30/20270.2%
Hayfin US XIV Ltd9.984% 11/20/20350.2%
SBNA Auto Receivables Trust 2024-A8.000% 08/03/20280.2%
SGUS LLC11.000% 12/15/20290.2%
USB Auto Owner Trust 2025-10.000% 11/03/20250.2%
Evergy Missouri West Inc0.000% 11/03/20250.2%
INVESCO US CLO 2025-1 LTD10.281% 06/28/20350.2%
CIFC Funding 2023-II Ltd11.840% 09/06/20330.2%
ASP Unifrax Holdings Inc7.100% 09/30/20290.2%
Sandstone Peak II Ltd10.334% 08/30/20350.2%
Trinitas CLO XXII Ltd9.884% 03/20/20380.2%
Elmwood CLO 14 Ltd9.779% 07/30/20350.2%
Generate CLO 22 Ltd9.599% 07/21/20350.2%
Ballyrock CLO 26 Ltd0.000% 11/03/20250.2%
Tronox Inc4.625% 03/15/20290.2%
Bain Capital Credit Clo 2024-5 Ltd10.020% 06/01/20340.2%
APIDOS CLO XLVIII Ltd9.608% 02/03/20340.2%
AMC Networks Inc4.250% 02/15/20290.2%
Exeter Automobile Receivables Trust 2021-10.000% 07/15/20330.2%
1988 CLO 4 Ltd10.825% 03/16/20340.1%
37 Capital Clo 4 Ltd9.255% 11/22/20310.1%
Bridge Street CLO V Ltd9.234% 11/14/20340.1%
Hayfin US XII Ltd9.634% 01/03/20350.1%
First Brands Group LLC9.473% 03/30/20270.1%
Orion CLO 2025-5 Ltd9.834% 02/10/20350.1%
AB BSL CLO 4 Ltd0.000% 10/22/20370.1%
Saks Global Enterprises LLC11.000% 12/15/20290.1%
Silver Point CLO 1 Ltd9.134% 08/27/20340.1%
Sunac China Holdings Ltd0.000% 09/30/20280.1%
Affirm Asset Securitization Trust 2025-X10.000% 11/03/20250.1%
Ares LXVIII CLO Ltd9.858% 12/26/20330.1%
POLUS US CLO I Ltd11.224% 12/18/20340.1%
PenFed Auto Receivables Owner Trust 2022-A0.000% 11/03/20250.1%
First Brands Group LLC5.534% 06/29/20260.1%
Affirm Asset Securitization Trust 2024-X20.000% 12/17/20290.1%
720 East CLO 2023-I Ltd11.215% 08/18/20340.1%
HINNT 2024-A LLC7.000% 06/11/20270.1%
Terawulf Inc0.000% 05/01/20320.1%
Shimao Group Holdings Ltd0.000% 09/09/99990.1%
Affirm Asset Securitization Trust 2024-X10.000% 05/15/20290.1%
OCP CLO 2024-31 Ltd10.784% 10/15/20330.0%
Laurel Road Prime Student Loan Trust 2019-A0.000% 11/03/20250.0%
Flagship Credit Auto Trust 2020-40.000% 11/03/20250.0%
Exeter Automobile Receivables Trust 2021-40.000% 11/03/20250.0%
ACBL0.000% 09/09/99990.0%
Carvana Auto Receivables Trust 2021-N10.000% 11/03/20250.0%
Sierra Timeshare 2024-2 Receivables Funding LLC7.480% 06/25/20270.0%
Rockland Park CLO Ltd9.584% 04/20/20320.0%
CIFI Holdings Group Co Ltd6.000% 07/16/20250.0%
FX USD/EUR 11/25- 11/21/20250.0%
Logan Group Co Ltd5.250% 02/23/20230.0%
NEW MOUNTAIN CLO 5 LTD0.000% 07/20/20360.0%
Logan Group Co Ltd4.500% 01/13/20280.0%
J.P. Morgan Chase Commercial Mortgage Securities Trust 2021-BOLT11.137% 08/15/20330.0%
Kleopatra Finco Sarl9.000% 09/01/20290.0%
CIFI Holdings Group Co Ltd4.375% 04/12/20270.0%
CIFI Holdings Group Co Ltd5.250% 05/13/20260.0%
ACBL HLDG CORP0.000% 09/09/99990.0%
Rackspace Technology Global Inc5.375% 12/01/20280.0%
Sunac China Holdings Ltd0.000% 09/09/99990.0%
Sunac China Holdings Ltd7.250% 09/30/20300.0%
Sunac China Holdings Ltd7.000% 09/30/20290.0%
Sunac China Holdings Ltd6.500% 09/30/20270.0%
Sunac China Holdings Ltd6.750% 09/30/20280.0%
Sunac China Holdings Ltd6.000% 09/30/20250.0%
Sunac China Holdings Ltd6.250% 09/30/20260.0%
Shimao Group Holdings Ltd5.000% 05/17/20300.0%
Citgo Holding Inc9.633% 08/01/20230.0%
Credit Default Swap0.250% 12/20/20260.0%
CHINOS INTERMEDIATE 2 LLC0.000% 09/09/99990.0%
JP Morgan Chase Commercial Mortgage Securities Trust 2014-DSTY3.805% 11/10/20250.0%
FX CAD/USD 01/26- 01/23/20260.0%
FX EUR/USD 11/25- 11/21/20250.0%
FX EUR/USD 11/25- 11/21/20250.0%
FX EUR/USD 11/25- 11/21/20250.0%
FX EUR/USD 11/25- 11/21/20250.0%
FX USD/CAD 01/26- 01/23/20260.0%
Miller's Ale House Inc9.063% 05/30/20250.0%
Pagaya AI Debt Selection Trust 2020-10.000% 11/03/20250.0%
Pagaya AI Debt Selection Trust 2021-10.000% 11/03/20250.0%
PODS LLC7.461% 03/31/20280.0%
Holding Coupon Maturity Assets
LA PRIVATE CREDIT FUND S 0.000% 04/02/2099 3.9%
LBM Acquisition LLC 6.250% 01/15/2029 2.8%
Vital Energy Inc 7.875% 04/15/2032 2.5%
Park-Ohio Industries Inc 8.500% 08/01/2029 2.3%
Saturn Oil & Gas Inc 9.625% 09/05/2028 2.2%
Park River Holdings Inc 8.750% 12/31/2030 2.2%
ZF North America Capital Inc 7.500% 03/24/2031 2.1%
Vermilion Energy Inc 7.250% 02/15/2033 2.0%
Hughes Satellite Systems Corp 6.625% 08/01/2026 2.0%
Cornerstone Building Brands Inc 6.125% 01/15/2029 2.0%
% of Total Assets 24.0%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 12/05/2025
$0.71444
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 11/30/2025 $0.06189 $8.63
Daily Daily 10/31/2025 $0.07288 $8.80
Daily Daily 09/30/2025 $0.06300 $8.92
Daily Daily 08/31/2025 $0.06228 $8.89
Daily Daily 07/31/2025 $0.07483 $8.75
Daily Daily 06/30/2025 $0.05848 $8.67
Daily Daily 05/31/2025 $0.06063 $8.52
Daily Daily 04/30/2025 $0.07216 $8.33
Daily Daily 03/31/2025 $0.06392 $8.76
Daily Daily 02/28/2025 $0.06012 $8.98
Daily Daily 01/31/2025 $0.06425 $9.00

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 12/31/2025

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/19/2022 12/20/2022 $0.0637 $0.0428 $0.1065 $8.82
07/27/2022 07/28/2022 $0.0302 - $0.0302 $9.16

Fees & Expenses

Fees & Expenses

Expense Ratio

Fund Gross Expense Ratio 2.59%
Fund Net Expense Ratio 2.57%
Adjusted Expense Ratio 2.14%

Expense ratio details, Click here.

Adjusted Expense Ratio – Excludes certain investment expenses, such as the interest expense from borrowing in certain underlying funds.

Fund Documents

Fund Documents

0Documents selected
Portfolio Holdings 1Q
Publish Date:11/03/2015
Portfolio Holdings 3Q
Publish Date:11/03/2015
Statutory Prospectus
Publish Date:11/03/2015
SAI
Publish Date:11/03/2015
Annual Report
Publish Date:11/03/2015
Semi-Annual Report
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
Commentary
Publish Date:11/03/2015
Fund Story
Publish Date:11/03/2015
Repurchase Calendar
Publish Date:11/03/2015

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Section 16 filings available HERE.

 

IMPORTANT INFORMATION

 

The Fund is structured as an unlisted closed-end interval fund.  Limited liquidity is provided to shareholders only through the Fund’s quarterly offers to repurchase between 5% and 25% of its outstanding shares at net asset value, subject to applicable law and approval of the Board of Trustees. The Fund currently expects to offer to repurchase 5% of outstanding shares per quarter.  There is no secondary market for the Fund’s shares and none is expected to develop.  There is no guarantee that an investor will be able to tender all or any of their requested Fund shares in a periodic repurchase offer.  Investors should consider shares of the Fund to be an illiquid investment.

The Fund’s ability to be fully invested and achieve its investment objective may be affected by the need to fund repurchase obligations. In addition, the fees and costs associated with investing in an interval fund may be significantly greater than those of other fund structures.

New Fund Risk: The Fund is newly organized. There can be no assurance that the Fund will reach or maintain a sufficient asset size to effectively implement its investment strategy.
 

A Note about Risk: The Fund is subject to the general risks associated with investing in debt securities, including market, credit, liquidity, and interest rate risk. The Fund may invest in high-yield, lower-rated securities, sometimes called junk bonds. These securities carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. The Fund may invest in debt securities of stressed and distressed issuers as well as in defaulted securities and debtor-in-possession financings, all of which may be considered Special Situations. Distressed and defaulted instruments generally present the same risks as investment in below investment grade instruments. However, in most cases, these risks are of a greater magnitude because of the uncertainties of investing in an issuer undergoing financial distress. The Fund may invest in foreign or emerging market securities, which may be adversely affected by economic, political, or regulatory factors and subject to currency volatility and greater liquidity risk. The Fund may invest in derivatives, which are subject to greater liquidity, leverage, and counterparty risk. These factors can affect Fund performance.

Because of the risks associated with the Fund’s ability to invest in high yield securities, loans and related instruments and mortgage-related and other asset-backed instruments, foreign (including emerging market) securities (and related exposure to foreign currencies), and the Fund’s ability to use leverage, an investment in the Fund should be considered speculative and involving a high degree of risk, including the risk of a substantial loss of investment. 

 

With Sales Charge - Returns with sales charges reflect applicable fees and expenses and include all distributions reinvested.

 

Without Sales Charge - Returns shown are without sales charges and have all distributions reinvested. If a sales charge had been deducted, the results would have been lower.

 

Returns shown at less than a year reflect aggregate total returns.

 

Double-Digit Returns - instances of high double-digit returns were achieved primarily during favorable market conditions and may not be sustainable over time.   

 

Indexes reflect total return, unless otherwise specified, with all dividends reinvested. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment. 

The ICE BofAML U.S. High Yield Constrained Index is a capitalization-weighted index of all US dollar denominated below investment grade corporate debt publicly issued in the US domestic market. 

Source ICE Data Indices, LLC (“ICE”), used with permission. ICE PERMITS USE OF THE ICE BofAML INDICES AND RELATED DATA ON AN "AS IS" BASIS, MAKES NO WARRANTIES REGARDING SAME, DOES NOT GUARANTEE THE SUITABILITY, QUALITY, ACCURACY, TIMELINESS, AND/OR COMPLETENESS OF THE ICE BofAML INDICES OR ANY DATA INCLUDED IN, RELATED TO, OR DERIVED THEREFROM, ASSUMES NO LIABILITY IN CONNECTION WITH THE USE OF THE FOREGOING, AND DOES NOT SPONSOR, ENDORSE, OR RECOMMEND LORD ABBETT, OR ANY OF ITS PRODUCTS OR SERVICES.

 

 

Lipper Category Average - Peer group averages are based on universes of funds with the same investment objectives. The average return for the peer group is based on the returns of each individual fund within the group for the period shown. This average assumes reinvestment of dividends.

 

Fund Expense Ratio Detail: Reflects expenses for the Fund's fiscal year-end and is subject to change. Fund expenses may fluctuate with market volatility. A substantial reduction in Fund assets (since its most recently completed fiscal year), whether caused by market conditions or significant redemptions or both, will likely cause total operating expenses (as a percentage of Fund assets) to become higher than those shown.

 

1

The 30-Day Standardized Yield represents net investment income earned by a fund over a 30-day period. It is expressed as an annual percentage rate using a method of calculation adopted by the Securities and Exchange Commission (SEC). Yields for other share classes will vary.

 

2

The 30-day Standardized Subsidized yields reflect fee waivers in effect. Without such fee waivers, yields would be reduced.  

 

3

The 30-day Standardized Unsubsidized yield does not reflect fee waivers.

Select funds to run a Morningstar Hypothetical Report.